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Reading: American style home Tapestry’s Q2 FY25 gross sales hit $2.2 bn
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NEW YORK DAWN™ > Blog > Fashion > American style home Tapestry’s Q2 FY25 gross sales hit $2.2 bn
American style home Tapestry’s Q2 FY25 gross sales hit .2 bn
Fashion

American style home Tapestry’s Q2 FY25 gross sales hit $2.2 bn

Last updated: February 7, 2025 7:20 am
Editorial Board Published February 7, 2025
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Tapestry, Inc, the mother or father firm of Coach, Kate Spade, and Stuart Weitzman, has reported a internet gross sales improve of 5 per cent year-over-year to $2.20 billion for the fiscal 2025 second quarter (FY25 Q2), ended December 28, 2024.

Tapestry, Inc reported a 5 per cent year-over-year gross sales improve to $2.20 billion in FY25 Q2, with gross revenue of $1.63 billion and a 74.4 per cent margin.
Web earnings was $310 million ($450 million non-GAAP).
Robust money stream and steadiness sheet led to an elevated FY25 outlook, projecting income over $6.85 billion and EPS of $4.85–$4.90.
The corporate stays assured in long-term progress.

Gross revenue reached $1.63 billion, with a gross margin of 74.4 per cent, reflecting operational enhancements and decrease freight bills. Working earnings grew to $493 million on a reported foundation, with an working margin of twenty-two.4 per cent, whereas on a non-GAAP foundation, working earnings stood at $548 million, with a 24.9 per cent margin.

Web earnings in Q2 was reported at $310 million, with earnings per diluted share (EPS) of $1.38. On a non-GAAP foundation, internet earnings was $450 million, with EPS of $2.00, up from $1.63 within the prior yr. The corporate incurred a $120 million cost associated to the redemption of acquisition-related debt following the terminated merger settlement with Capri Holdings Restricted. Adjusted free money stream for the quarter was $891 million, barely up from $859 million within the prior yr, the corporate stated in a press launch.

Tapestry maintained a powerful steadiness sheet, with money and short-term investments totalling $1.0 billion and internet debt at $1.7 billion, representing a leverage ratio of 1.6x. The corporate additionally introduced plans to repay its $303 million April 2025 bonds at maturity. Stock ranges stood at $937 million on the finish of Q2, up from $825 million within the prior yr, as anticipated.

“Our strong second quarter outperformance is a testament to our exceptional teams and our collective commitment to disciplined brand building. During the important holiday season, we meaningfully advanced our growth agenda, bringing innovation and craftsmanship to consumers around the world. Our success is clearly reflected in the accelerated top and bottom-line gains we achieved, resulting in record quarterly revenue and adjusted earnings per share,” stated Joanne Crevoiserat, chief govt officer of Tapestry, Inc.

Tapestry’s outlook assumes no income or earnings affect from the terminated Capri Holdings acquisition, no additional appreciation of the US greenback, no materials worsening of inflationary pressures or client confidence, and no coverage adjustments ensuing from the upcoming US Presidential Administration shift. The forecast additionally contains the anticipated 10 per cent tariff on items imported from China into the US starting February 4, 2025, although the corporate expects this to have an immaterial affect on fiscal 2025 outcomes.

“Further, we raised our outlook for the year, harnessing our position of strength to deliver superior results, while making strategic investments to extend our competitive advantages and power durable growth. We remain confident in Tapestry’s bright future and the compelling opportunity for continued, significant value creation,” Joanne added.


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